Web3 game developer Particle Network raises $1.5M led by Particle Network
Particle Network, a platform for building and operating blockchain-powered mobile games, has pulled in a new investment of $1.5 million led by Web3 fund LongHash Ventures.
The pre-seed funding round for Particle Network aims to accelerate game developers’ transition to Web3 by providing developers with the necessary toolkit to build, host, and scale gaming dApps.
Investors in the round also included Insignia Ventures Partners, CyberConnect, BitCoke Ventures, 7 O’Clock Capital, FSC Ventures, Monad Labs and other strategic blockchain investors.
Particle Network plans to use the new capital to add more features and integrations to the marketplace, as well as grow its headcount and nurture its global developer community across the world.
Particle Network has created a multi-chain platform that enables game creators to build Web3 casual games that anyone can play, regardless of their familiarity with the underlying crypto technologies. It enables developers to build on Solana, BNB Chain, Polygon, Immutable X, Avalanche, Flow, Evmos, and Wax.
Redefining the play-to-earn gaming infrastructure for Web3, the initial games announced were Merge Go, Designer 777, Idle Weed Inc and Panda^2.
Despite the rocky start to the year for the cryptocurrency market, blockchain-based gaming has only grown in popularity.
Emma Cui, Founding Partner of LongHash Ventures, comments: “This investment underlines our bullish thesis on Web3 gaming and, more specifically, Web3 mobile gaming. Particle Network removes one of the biggest obstacles to the development of the Web3 gaming ecosystem: the lack of Web3 mobile tech stack and social graphs that developers need to efficiently build and launch immersive gaming dApps. By providing a fully managed backend infrastructure, Particle Network enables developers to accelerate their Web3 game development.”
LongHash Ventures supports the Terra ecosystem
Particle Network Co-founder and CEO Pengyu Wang added: “When we first ventured into the Web3 world as devs, we realized we had to build the very basics of a mobile app from the ground-up. That, however, creates unnecessarily high barriers to Web3 mobile app building, and each dev reinventing the wheel to create an app does not contribute to Web3 in the long term. Now with Particle Network, developers can focus on creating amazing gaming experiences without worrying about building everything from scratch.”
Earlier in April, LongHash Ventures joined forces with Terraform Labs, the South Korean company behind the Terra public blockchain, to support projects building on the Terra ecosystem.
The core of this alliance is to open up a Singapore-based program established in 2018 to support Web3 development for Terra-related startups. They call it the “LongHashX Accelerator Terra cohort.”
Striving towards a world where all blockchains can seamlessly communicate, LongHash Ventures has put forward the capabilities of its accelerator partnership model to sponsor leading Web3 protocols building on the Terra blockchain.
LongHash said that it has made some improvements to its program, such as hosting weekly workshops and fireside chats with industry leaders, as well as one-on-one consultations with teams.
